K&L Gates has advised Al Rayan Investment LLC (the investment subsidiary of Qatari bank Masraf Al Rayan) on the listing of an exchange traded fund (ETF) in Qatar.
Understood to be both the first Qatari Sharia’h-compliant ETF and the largest single-country Sharia’h-compliant equity ETF in the world in terms of asset value, the fund will track the QE Al Rayan Islamic Index, a Sharia’h-compliant index of Qatari equities.
Masraf Al Rayan is the founder of the fund while Al Rayan Investment has been appointed the fund manager.
The K&L Gates team that advised on the matter was Doha partner Amjad Hussain (picture), Washington, D.C., partner Stacey Fuller, and Doha associates Jaime Oon and Mohammed Tartir.
Law Firms: K&L Gates;
Clients: Masraf al Rayan;